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Meeting with VC Associates
Over the past few weeks there has been a significant debate on Twitter about whether or not you should be meeting with VC Associates. Many people have said that it is a waste of time given that they can’t actually make an investment in your company and that there is a low probability that a meeting with a VC associate will lead to an investment in your startup.
I want to share why I think you should take these meetings and how I think you should approach them.
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Why you should take the meeting - Getting to meet with any investor is something you should always be excited about. It’s an opportunity to practice your pitch, to get feedback from an external party and to hear what an investor thinks of your company as an investable proposition. While many of these meetings won’t give you anything tangible in value, you never know which one will lead to a massive investment or what feedback might give you the idea that launches your business to the next level.
How to make the meetings worthwhile - If you are going to take a meeting with a VC associate then you need to ensure that you are making it worthwhile for yourself. The best way to do this is to ask the associate ahead of time what you will need to do or how to take this to the next step within their firm. Then, after you pitch, you should make sure that you are clear with the VC associate about what the next steps will be on their end to push through an investment. By understanding what they are looking for and how this can become an investment, you also know when you are no longer seriously being considered and can stop investing your time at that point.
In short while I acknowledge that many of these meetings don’t turn into money for founders. I think there is still great value in them. The truth is that you only need one investor to say yes and I fundamentally believe that is enough of a reason to take as many meetings as you can. You want to maximize your chances of getting that yes.
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